As seen below, the real estate results for Monroe, NY are now available for the January 2016 period.
These sale price results may be disappointing to sellers who are holding off putting their homes on the market until prices rise. There is an explanation, though, for the dip in the January 2016 median sale prices of $224K. Over 20% of those sales were foreclosured properties. Another sale was a very low priced cash-only home that needed to be ripped down and rebuilt. So there were quite a few homes which pulled down the median. If those were removed from the mix, the median would have been a much healthier $298K. So anyone who wants to sell their home should take heart. Prices are not as low as they appear at first glance.
Regarding sales volume, sales volume is heading up again in the Monroe NY area, appearing to be signaling a lively spring market. Inventory has declined significantly, though, as indicated in my recent post, and in fact it is now at a very low level of 107 available homes. New inventory is definitely needed!
If you want more information about Monroe or any other Orange County area, just call me on 914-419-0270 or email me at firstname.lastname@example.org.
Originally posted in ActiveRain.